Reliance Industries shares turn ex-bonus today

Mukesh Ambani-led Reliance Industries went ex-bonus on Thursday a day after the conglomerate said it has acquired assets of Kemrock Industries and Exports for an undisclosed sum to enter the composites and carbon fibre manufacturing business. 

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Reliance Industries earlier announced a 1:1 bonus share issue that means a holder of Reliance Industries stock will get an additional  RIL stock in his account. Record date for the bonus issue is September 9, 2017. 

Stock turns ex-bonus

The stock turned ex-bonus today which means the purchaser of the RIL stock from today will not receive any bonus shares announced by the firm. Hence, the stock you will purchase today will be without a bonus share.

At 10:58 am, the RIL stock was trading at Rs 824 level against the closing price of Rs 1645.50 on Wednesday.

The Reliance Industries stock closed marginally lower at Rs 819.90 on Thursday.

There is no need to panic if you see that the value of RIL stock  in your demat account has decreased. On September 9, holders of Reliance Industries stocks in their demat accounts will get bonus shares of the firm. Usually, it takes a maximum of two-three days for shares to appear in the demat account of the holder.

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Hence, investors buying Reliance Industries shares today are not entitled to bonus shares.

The company had earlier announced 1:1 bonus issue on November 12, 2009. Bonus issue of shares means a firm offering free additional shares to existing shareholders as an alternative to dividend payout.

The Reliance Industries stock has seen huge buying in run-up to the bonus issue. During the last seven trading sessions, its shares have surged more than 8 per cent.  

While addressing the 40th annual general meeting at Birla Matushri Sabhagar in Mumbai on July 21, 2017, Mukesh Ambani had announced the 1:1 bonus issue and said, "This is the largest bonus issue by any company so far".